Stein Mart closing amid COVID-19 crisis
Stein Mart, a sore that has been around for 112–years, has filed for bankruptcy. Most stores will close, and likely the one in Lexington.
The COVID-19 crisis “caused significant financial distress on our business,” Stein Mart CEO Hunt Hawkins said in a release on Wednesday. The coronavirus forced store closings in many states. It was a blow too hard to take.
The discount department-store chain is permanently closing a “significant portion, if not all” of its brick-and-mortar stores with liquidation sales beginning immediately.
Stein Mart began in 1908 as a department store in Mississippi. It expanded to nearly across 30 states. Many of those stores were in South Carolina.